Chickpeas Market

Chickpeas Market Overview:

The global chickpeas market size reached 20.5 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 31.7 Million Tons by 2032, exhibiting a growth rate (CAGR) of 4.76% during 2024-2032. There are various factors that are driving the market, which include the growing demand for convenient and ready-to-eat (RTE) snacks, increasing need for plant-based protein, and rising health consciousness among individuals due to the focus on health and wellness.   

Chickpeas Market Analysis:

• Major Market Drivers: One of the key market drivers includes the expansion of the food processing industry. Moreover, there is an increase in the sustainable and ethical sourcing of products, which is acting as another growth-inducing factor.      
• Key Market Trends: The rising demand for plant-based protein and rising health consciousness among individuals are main trends in the market.
• Geographical Trends: India exhibits a clear dominance, accounting for the biggest market share owing to the changing dietary patterns of individuals.
• Competitive Landscape: Some of the major chickpeas companies are Adani Wilmar Limited (AWL), Cargill Foods India, AGT Food and Ingredients, Inc., BroadGrain Commodities, Inc., among many others.
• Challenges and Opportunities: Climate change and weather-related risks such as droughts, floods, and unseasonal rainfall, represent a key market challenge. Nonetheless, advancements in agricultural practices like improved seed varieties and farming techniques for higher crop yields, coupled with the shift towards online shopping among individuals and the high number of e-commerce platforms, are projected to overcome these challenges and provide market opportunities.
   

Chickpeas Market Trends:

Increasing Demand for Plant-Based Protein

The rising health and environmental consciousness among individuals are catalyzing the demand for plant-based protein. The market is expanding owing to a shift from animal-based proteins toward plant-based substitutes. Chickpeas are a popular option for people who are seeking to reduce meat consumption or follow vegetarian and vegan diets due to their high protein content and other nutritional value. Furthermore, the product's adaptability makes it possible to include them into a variety of goods including hummus, plant-based meat alternatives, and high-protein snacks, thereby catalyzing the chickpeas demand. Besides this, the appeal of chickpeas extends to those with dietary restrictions like gluten-free and dairy-free diets and make them a preferred ingredient in a variety of food products. Furthermore, the plant-based protein trend is also supported by several research highlighting the health benefits of plant-based diets including lowered risks of chronic diseases and improved overall well-being. People with these illnesses prefer food items that contribute to better health maintenance. Leading companies in the industry are concentrating on launching novel goods to attract the interest of a larger consumer base and increase their chickpeas market revenue. On February 20, 2024, for example, InnovoPro developed new barista chickpea protein clean label goods. It also aids in eliminating buffers and emulsifiers and contains up to seven components. The product line will also expand in order to meet the market's demand for clean label products. This is a natural evolution and underscores company’s commitment to staying ahead in the market.

Rising Health Consciousness Among Individuals

The increasing focus on health and wellness among health-conscious individuals across the globe is contributing to the chickpeas market growth. People are looking for nutrient-dense meals with several health benefits as they become more conscious of the value of eating a balanced diet. Chickpeas are a popular option among consumers who are health-conscious because of their high protein, fiber content, vitamins, and minerals. Their ability to control blood sugar levels, manage weight, and enhance digestive health. They are a great snack for anyone trying to control their diabetes or maintain a healthy weight because of their high fiber content, which also helps with digestion and satiety. Additionally, the growing demand for low in fat and high in amino acids is offering a favorable chickpeas market outlook. Furthermore, the rising focus on clean-label products among individuals is propelling the market growth. Besides this, companies are launching innovative chickpea products that are incorporated with other healthier ingredients. For instance, ChickP, Ltd. unveiled new prototypes with its 90% chickpea protein isolate on November 13, 2023, targeting consumers seeking active nutrition. The company displayed product concepts for granola that are supplemented with protein such as energy bars and enhanced cereals. The samples have around 30% chickpea isolate and nuts, seeds, oats, and green buckwheat.

Growing Demand for Convenient and Ready-to-Eat (RTE) Snacks

The market is growing as more people with hectic schedules are consuming quick and RTE snacks. Fast, wholesome, and convenient food options are mainly preferred by consumers. Chickpeas are a common component of many RTE snacks because of their adaptability and health benefits. They are added to numerous snack foods like hummus-based snacks, chickpea chips, and roasted chickpeas. People who are concerned about their health are searching for portable snacks that are rich in protein, fiber, and other necessary nutrients. Moreover, increasing preferences for plant-based and gluten-free snacks are supporting the market growth. Companies are incorporating chickpeas to a greater variety of food items to cater to unique consumer needs. For instance, PepsiCo's Walkers brand declared a new line of chickpea-based products under its well-known Wotsits and Monster Munch brands in the UK on July 1, 2024. These products are categorized as not having a lot of fat, salt, or sugar (non-HFSS). The delicious new range of chickpea snacks is less than 100 calories, 25% lower in salt than the average extruded product, and provides a source of fibre. In addition, on 21 May 2024, Hippeas launched chickpea puffs with flavors like Bohemian BBQ and Blazin’ Hot. Chickpea puffs offer crunch and explosive flavor and are clean label, totally free from allergens, non-genetically modified organism (GMO) project verified, and 100% delicious.

Chickpeas Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global and country levels for 2024-2032.

Breakup by Region:

• India
• Australia
• Pakistan
• Myanmar
• Ethiopia
   

India leads the market, accounting for the largest chickpeas market share

The report has also provided a comprehensive analysis of all the major regional markets, which include India, Australia, Pakistan, Myanmar, and Ethiopia. According to the report, India represents the largest regional market for chickpeas.

India's position as the largest chickpea market share is primarily driven by the staple role that chickpeas play in the country's diet. Chickpeas are a staple of many traditional Indian meals including curries, snacks, and sweets. With its ideal climate and enormous amount of agricultural land devoted to chickpea farming, the nation also ranks among the top producers of chickpeas in the globe. Furthermore, the rising popularity of Indian cuisine across the globe is catalyzing the demand for chickpeas in international markets. In addition, major market participants in the country are introducing new product lines as to attract a larger consumer base. For instance, on May 1, 2023, Alt Health was created in India under the Bengaluru-based firm Bhookha Haathi Hospitality Limited in India to the transform lives of individuals with its caffeine-free coffee alternatives. In order to break away from over-dependency on coffee and its caffeinating effect, health brand Bhookha Haathi created its food-focused health label Alt Health as a way to develop its line of chickpea-powered coffee alternatives. The brand is in the process of entering the US market soon, with the hope helping Americans break their caffeine dependencies. This is expected to provide a positive chickpeas market forecast.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the chickpeas industry include Adani Wilmar Limited (AWL), Cargill Foods India, AGT Food and Ingredients, Inc., and BroadGrain Commodities, Inc.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• Key players in the market are introducing a variety of attractive products, focusing on expanding their market reach, and engaging in partnerships. All of these are providing chickpeas market recent opportunities. Several leading companies are increasing their production capacities to meet the growing demand for chickpeas. In addition, key players are forming strategic partnerships with food processors, retailers, and distributors to expand their market reach. Apart from this, companies are adopting eco-friendly farming practices, reducing water usage, and minimizing chemical inputs to produce chickpeas sustainably. They are also leveraging digital marketing, social media, and influencer partnerships to reach a broader audience, particularly in markets where chickpea consumption is still emerging. Moreover, they are innovating and diversifying their product offerings to cater to the unique needs of individuals. For instance, on 28 March 2023, Barilla, the world's leading pasta producer, announced the newest addition to its line of chickpea pastas ‘Orzo’. It is made with only one ingredient and without any additives like xanthan gum, this short-cut pasta includes 19g of plant-based protein per 3.5oz serving and is certified gluten-free.  

Chickpeas Market Recent Developments:

• 7 February 2023: Global Food and Ingredients Ltd. announced its national retail launch into sprouts farmers market in the United States for the company's Yofiit brand. Sprouts is one of the largest and fastest growing specialty retailers of fresh, natural, and organic food in the United States, with roughly 380 stores across 23 states. The initial launch offers users two flavors of Yofiit's high protein and tasty chickpea-based milk like original and vanilla cinnamon.      
• 20 April 2023: Israeli food tech startup Meat. The End (MTE) announced the debut of the world’s first texturized plant-based burger made solely of chickpea protein. MTE uses 100% chickpea protein concentrate in powder or granular form, which is undergoing an advanced extrusion process to transform the texture of plants into the texture of meat.
• 14 September 2023: Symrise launched chickpea and aquafaba ingredients with multiple benefits for plant-based applications. They contain no EU allergen, while being gluten free and non-GMO. They suit a wide range of recipes due to their light taste and color.

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global market.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the chickpeas industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.